Joby Aviation (NYSE:JOBY) Stock Price Up 2.8%

Joby Aviation, Inc. (NYSE:JOBY)’s stock price shot up 2.8% during trading on Tuesday . The company traded as high as $5.30 and last traded at $5.22. 2,179,413 shares were traded during mid-day trading, a decline of 61% from the average session volume of 5,584,013 shares. The stock had previously closed at $5.08.

Analysts Set New Price Targets

A number of brokerages have recently commented on JOBY. JPMorgan Chase & Co. increased their price target on shares of Joby Aviation from $5.00 to $6.00 and gave the stock a “neutral” rating in a report on Wednesday, July 24th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $10.00 target price on shares of Joby Aviation in a report on Monday, July 22nd.

Joby Aviation Trading Up 1.2 %

The company’s fifty day moving average is $5.48 and its 200 day moving average is $5.38. The company has a market cap of $3.64 billion, a P/E ratio of -6.74 and a beta of 2.00.

Joby Aviation (NYSE:JOBY) last released its earnings results on Tuesday, May 7th. The company reported ($0.14) EPS for the quarter, beating the consensus estimate of ($0.17) by $0.03. The business had revenue of $0.03 million for the quarter, compared to the consensus estimate of $0.05 million. During the same period in the prior year, the business posted ($0.16) EPS. Joby Aviation’s revenue for the quarter was down 97.5% on a year-over-year basis. Analysts anticipate that Joby Aviation, Inc. will post -0.69 EPS for the current year.

Insider Buying and Selling at Joby Aviation

In other news, insider Didier Papadopoulos sold 23,188 shares of the firm’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $4.86, for a total value of $112,693.68. Following the completion of the sale, the insider now directly owns 54,666 shares of the company’s stock, valued at approximately $265,676.76. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CEO Joeben Bevirt sold 250,000 shares of the firm’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $4.86, for a total value of $1,215,000.00. Following the completion of the sale, the chief executive officer now directly owns 32,724,274 shares of the company’s stock, valued at approximately $159,039,971.64. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Didier Papadopoulos sold 23,188 shares of Joby Aviation stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $4.86, for a total transaction of $112,693.68. Following the transaction, the insider now directly owns 54,666 shares of the company’s stock, valued at $265,676.76. The disclosure for this sale can be found here. Insiders sold 343,395 shares of company stock valued at $1,699,082 in the last quarter. Company insiders own 32.40% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Baillie Gifford & Co. increased its stake in Joby Aviation by 10.3% during the 4th quarter. Baillie Gifford & Co. now owns 56,320,441 shares of the company’s stock valued at $374,531,000 after purchasing an additional 5,267,436 shares in the last quarter. Vanguard Group Inc. increased its stake in Joby Aviation by 9.1% during the 1st quarter. Vanguard Group Inc. now owns 34,659,624 shares of the company’s stock valued at $185,776,000 after purchasing an additional 2,889,012 shares in the last quarter. 8VC GP I LLC bought a new stake in Joby Aviation during the 4th quarter valued at about $95,727,000. Charles Schwab Investment Management Inc. increased its stake in Joby Aviation by 1.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,818,603 shares of the company’s stock valued at $25,394,000 after purchasing an additional 64,404 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new stake in Joby Aviation during the 1st quarter valued at about $15,357,000. 45.54% of the stock is owned by hedge funds and other institutional investors.

About Joby Aviation

Joby Aviation, Inc, a vertically integrated air mobility company, engages in building an electric vertical takeoff and landing aircraft optimized to deliver air transportation as a service. The company intends to build an aerial ridesharing service, as well as developing an application-based platform that will enable consumers to book rides.